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Plus500’s Q3 revenues soar 50% higher, yoy

The Q3 2017 revenues of Plus500 – a global CFD and forex broker, stood at $327.9 million, up 50% from the same period of last year, shows the official company report.


The number of new clients (A customer who has deposited real money into their own account for the first time) rose even further – 69%, to 104,432. Likewise, the number of active clients (a customer who makes at least one trade using real money on the Trading Platform during the relevant period) rose 35% from the same period of last year and stood at 155,956.


In its report Plus500 outlines the efficient marketing activities and retention activities as the main factor behind the high numbers of new customers, reactivations and high customer trading levels during the quarter. The addition of new financial instruments and exchanges for trading, have also contributed to the successful results of the brokerage.


The average revenue per user (ARPU) has also risen in the period – from $1799 in Q3 2016 to $1905 in Q3 2017, or 11%. At the same time, the client acquisition costs have been cut by 47%, to $689 and is also among the main drivers of Plus500’s EBITDA.


For 2018 the company board has high expectations and believes that Plus500 is well positioned to utilize growth opportunities such as new licenses and instruments and hopes that the momentum of Q3 will continue into the last quarter of this year and into 2018.


"Our results for the third quarter continued the strong progress of the first half, with record revenue and a record number of new and active customers. With this positive momentum, we are on track to achieve results which are ahead of our expectations for the year as a whole", said Asaf Elimelech, Chief Executive Officer of Plus500.


Apparently the Q3 are much in line with the record performance of Plus500 in the first half of the year and the outlook back then.


Plus500 is headquartered in Israel and has offices throughout the world. The broker offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages on desktop and Android, Windows and iOS mobile operating systems. The broker is regulated in six countries – the UK, Cyprus, Israel, Australia, New Zealand, and South Africa. Currently it is trying to obtain a license from Bulgaria’s Financial Supervision Commission in order to expand its activities, in addition to the existing customer support center there.

 

 

TAGS: plus500  q3 results 

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